Planet Labs PBC (NYSE: PL) stock jumped 3.40% on Monday to $2.43 against a previous-day closing price of $2.35. With 1.01 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.51 million shares. During the session, the Aerospace & Defense company that operates in wider Industrials sector, reached to the highest price of $2.4450 whereas the lowest price it dropped to was $2.3250. The 52-week range on PL shows that it touched its highest point at $5.81 and its lowest point at $2.04 during that stretch. It currently has a 1-year price target of $5.44. Beta for the stock currently stands at 0.71.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PL was up-trending over the past week, with a rise of 8.48%, but this was up by 13.55% over a month. Three-month performance dropped to -24.30% while six-month performance fell -44.14%. The stock lost -52.45% in the past year, while it has lost -44.14% so far this year. A look at the trailing 12-month EPS for PL yields -0.55 with Next year EPS estimates of -0.21. For the next quarter, that number is -0.08. This implies an EPS growth rate of 2.57% for this year and 31.03% for next year. EPS is expected to grow by 30.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 32.20%.
Float and Shares Shorts:
At present, 250.63 million PL shares are outstanding with a float of 165.97 million shares on hand for trading. On Oct 30, 2023, short shares totaled 7.72 million, which was 2.70% higher than short shares on Sep 28, 2023. In addition to Mr. William Spencer Marshall as the firm’s Co-Founder, CEO & Chairman of the Board, Mr. Robert Henry Schingler Jr. serves as its Co-Founder, Chief Strategy Officer & Director.
Through their ownership of 55.12% of PL’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 18.91% of PL, in contrast to 12.64% held by mutual funds. Shares owned by individuals account for 10.06%. As the largest shareholder in PL with 6.55% of the stake, The Vanguard Group, Inc. holds 17,322,674 shares worth 17,322,674. A second-largest stockholder of PL, BlackRock Fund Advisors, holds 10,641,882 shares, controlling over 4.02% of the firm’s shares. Canada Pension Plan Investment Bo is the third largest shareholder in PL, holding 7,800,000 shares or 2.95% stake. With a 2.95% stake in PL, the Canada Pension Plan is the largest stakeholder. A total of 7,800,000 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.19% of PL stock, is the second-largest Mutual Fund holder. It holds 5,801,296 shares valued at 12.53 million. Vanguard Small Cap Index Fund holds 1.86% of the stake in PL, owning 4,912,456 shares worth 10.61 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PL since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With PL analysts setting a high price target of $7.00 and a low target of $4.00, the average target price over the next 12 months is $5.44. Based on these targets, PL could surge 188.07% to reach the target high and rise by 64.61% to reach the target low. Reaching the average price target will result in a growth of 123.87% from current levels.